The Nigerian Exchange Limited (NGX) on Wednesday expanded on its previous day’s gains to end the day’s trading activities of equities with the market capitalization advancing by 151 billion Naira from N20,266 trillion to N20,417 trillion.
The 0.74% gain was attributed to investors’ interest in DANGOTE CEMENT PLC which increased by 2.2%, while the All-Share Index upped 289.25 basis points from 38,881.70 basis points to 39,170.95 basis points.
During the course of the day, investors traded 181,526 million units of shares worth N3,959 billion in 3,217 deals where ZENITH BANK PLC was the most traded stock by volume at 20.76 million units, while NESTLE NIG. PLC was the most traded stock by value at NGN1.41 billion.
Also, market sentiment as measured by market breadth was positive as 25 stocks posted gains while 6 stocks declined.
CUTIX PLC was top on the gainers’ list, advancing from a previous selling price of N2.30k per share to N2.53k per share by 0.23k or 10.00 percent. It was followed by OKOMU OIL PALM PLC which climbed from N106.15k per share to N116.50k by N10.35k or 9.75 percent, while UNION BANK OF NIGERIA PLC moved from N5.30k per share to N5.80k per share by 0.50k or 9.43 percent.
Conversely, SOVEREIGN TRUST INSURANCE PLC was the biggest loser with a fall from a previous selling price of 0.28k per share to 0.27k per share by 0.01k or 3.57 percent.
JAIZ BANK PLC followed right after with a decline from 0.59k per share to 0.57k per share loosing 0.02k or 3.39 percent, while FCMB GROUP PLC fell from N3.15k per share to N3.10k per share, loosing 0.05k or 1.59 percent.
Sectoral performance was broadly positive, as the Industrial Goods index grew by 1.3%; Banking index grew by 1.3%, while Insurance index upped 0.4%; Consumer Goods index upped 0.3% while the Oil & Gas index marginally gained 0.03%.
Amaka E. Nliam
